Nu Skin Enterprises, Inc. announced third-quarter revenue results of $703.3 million, a 19 percent increase year-over-year.
“We continued to build momentum with accelerated results in the third quarter, as we generated revenue and earnings per share well above expectations,” said Ritch Wood, chief executive officer. “As we executed on our long-term strategy, we drove double-digit growth in both customers and sales leaders with revenue improvements in all but one reporting segment. We delivered strong double-digit growth in the Americas, Pacific and EMEA regions, with modest growth throughout most of Asia. Mainland China continues to stabilize with sequentially improving revenue, customers and sales leaders, and we remain on track for a return to year-over-year growth in China in the fourth quarter. Our manufacturing division contributed to our results with impressive 34 percent growth.”
Regionally, revenue for the three-month period ended September 30, 2020, in the company’s reportable segments were (U.S. dollars in thousands):
- Mainland China – $169,068, down 3% from $173,974 in 2019
- Americas/Pacific – $151,465, up 81% from $83,635 in 2019
- South Korea – $83,460, up 5% from $79,435 in 2019
- Southeast Asia – $84,102, up 7% from $78,963 in 2019
- Japan – $70,958, up 6% from $67,197 in 2019
- EMEA – $61,411, up 72% from $35,742 in 2019
- Hong Kong/Taiwan – $42,265, up 4% from $40,449 in 2019
“We are outpacing our 2020 growth projections due to strong product demand and ongoing digital investments that empower our sales leaders and affiliates to build a socially enabled business,” said Wood. “We are also benefitting from the current environment where more individuals are working from home and shopping online. Currently, approximately 90 percent of Nu Skin revenue is coming from digital transactions.”
To read the full Nu Skin Q3 2020 report, click here.
